Gold prices (XAU/USD) climbed above $2,900 on Monday, supported by USD weakness and ongoing concerns about Trump’s trade tariffs. The potential for a global trade war has boosted the appeal of safe-haven assets. Despite optimism over U.S.-Russia talks on the Ukraine conflict, markets remain focused on potential U.S. tariff escalations, with auto levies threatened by April.
Weak U.S. retail sales and expectations of a Federal Reserve rate cut in September further fueled gold’s rise, with the 10-year U.S. Treasury yield drop signaling potential lower inflation. Technically, gold faces resistance at $2,925 and an all-time high near $2,942-$2,943. Support is seen at $2,885, $2,855, and $2,834, with further declines possibly limited by the $2,815 region. Overall, the outlook remains bullish, with risks of a global trade war underpinning gold’s price trajectory.
https://www.fxstreet.com/news/gold-price-retakes-2-900-mark-amid-broadly-weaker-usd-202502170434


